UK advice consolidator Amber River has completed its deal with private equity firm Stone Point Capital, which bought the firm in February.
Amber River, which has around £13.6bn of assets under management and over 330 financial advisers, said the partnership will see funds managed by Stone Point provide capital and strategic support for Amber River to accelerate its growth plans.
Since February, Amber River has continued to acquire advice firms and has agreed deals with 11 local businesses that will be integrated into its 13 regional hubs. It said these deals have been a combination of retiring advisers and businesses looking for support with their growth plans.
The firm is also continuing to invest in staff and technology, and launched an adviser academy in Henley in February.
Mary-Anne McIntyre, CEO at Amber River, said: “The completion of our deal with Stone Point marks an important milestone for us. We both see significant opportunity for growth given the current tailwinds in the UK market.
“We are excited about what we can achieve together – investing in our people, raising awareness of the importance of long-term financial planning and further strengthening the support we give to our clients across the UK, and with Stone Point’s support, we are now well positioned to meet our growth ambitions.”
Read more: Amber River acquired by PE firm Stone Point Capital
